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a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp o
of italy's companies is with us sounding the alarm and best buy back to its losing ways after surging 16% yesterday. find out if you should pick up the stock at these levels. you're watching "closing bell" on cnbc, first in business worldwide. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chas ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >>> welcome back, the fiscal cliff deadline in the united states is not jus
of italy without their unde >>> if you're traveling you know good advice. take your under wear in case your check in bags get lost. >> the key phrase is is usually good advice. michael finney here now with a problem solver. >> now, if you guys came to me and said michael, what should i pack in my carry on, boy say carry those things you can't to without. as you said usually good advice on this flight, that normally good advice went awry. sandy is showing us the drill. traveling widely taking a carry on with the must have items. earlier this year, on a trip to italy, things got off to a rocky start for sandy and her husband. >> they're told on the plane before we got on the plane that the overhead bins were full. check your carry on. which is what we did. >> then, what happened? >> then, we got to rome exit wasn't there. >> took took insights and sounds of italy. they bought new. luggage arrived they went to pick it up. >> we had to go to naples, pick it up. and that was probably an hour ride on the bus. and then, we had to take a cab from the airport to the train station where we were going
unite all the family in italy, get together and we start around 7:00. and even before people go to church at midnight. and we start with seafood. >> you say you start with fish. this is the secrets -- >> this is secrets of the sea. >> what's in this? >> baby clams in the shell. >> it's got olives in it. >> olives, capers. >> the secret sauce -- >> just a touch tomatoes, garlic, white wine. that's it. >> when we talk about seven fishes, you've got fish coming all night in italy. you begin when people first walk in with these wonderful oysters. >> oysters, clams, whatever shellfish we have we put them on the table. >> let's have a look at this. this is fresh fish that you've been marinating. >> fish and shell dish. longostino, yellow tuna, whiting, these are called eel. >> you take all of that beautiful fresh fish and you put it in -- what are we sauteing? >> when you put this in the pans, saute little bit, olive oil, mix breadcrumb, white wine, capers, oregano. >> you also brought some pasta. can you lift that over here? >> this is tradition ravioli for christmas day. >> does thi
. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had thi
% and 1.6%. there's also no political crisis in italy by the way. support has been withdrawn for the group run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the situation is like within that central right next. the pdl has made it clear that there is a serious disagreement within the party. they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as
finney helps a bay area couple forced to take a tour of italy without >> did you know abc7 news has the fastest weather tracking system? take a look at live doppler 7 hd. our morning meteorologist tells us how it will keep your family safe during our severe weather season. >> winter is officially two weeks away. the rainy season is already here. abc7 news is the best place to track it. abc7 news has the strongest, fastest, most powerful storm tracking system in northern california. from sky 7 hd you can see our exclusive live 7 hd high above the mountain. it's farther west than any other doppler radar in the bay area. the national weather service's doppler is more than 100 miles south in the santa cruz mountains. together we track the storms as they move through the bay area. when rain is approaching. abc7 knows who will be impacted first. live doppler 7 hd is so powerful it can scan hundreds of miles in seconds and pick up even a trace of precipitation in your neighborhood. the national weather service predicts a dryer and warmer than average winter in california because of the el
was in congress i have the invitation of president carter to visit italy with the delegation. we went there to deliver assistance from the united states government after an earthquake in southern italy. in one of the villages we visited there was a rehearsal for first communion going on in the church. just about every seven-year-old in the village was there practicing. when the earthquake hit, the roof came down and every seven- year-old in the village was gone. it was impossible to console people there. not only have they individually lost their child, which is unthinkable, but the whole town had passed -- have lost that class. their babies. that really transformed my thinking about how fragile life is. this was a natural disaster. what happened in the town -- newtown was a personal decision whose judgment was impaired. how could he do this? because he had his own problems. how could he do this? because he had the guns. he had the assault magazines to do it. that is how he could do it. let's at least try to mitigate for the circumstances we may not be able to control entirely, the me
there of in europe. mario monti is stepping down as prime minister of italy. he lost support of the people. he was out in front of italy's debt crisis last year and he lowered the bar in cost. he is a smart guy. he obviously does not want to stay there. investors took heart from the latest data out of china. growth is accelerating. no more that owning our process here. almost 10%. beating analyst estimates. copper moved higher. it is an industrial metal. money flowing into stocks. minors like numa mining. then, of course, the announcement that they would be taking a big acquisition. today, it is up more than a percent. cliff natural of about 5%. we should not forget mcdonald's. better same-store sales than expected. coming up in just a few minutes. cash is king at ethan allen peered the furniture retailer throwing a lot more cash at shareholders. they are announcing a one-time payout this month alone. we will get the inside story from ethan allen chairman and ceo farooq kathwari. you have to hear about his plans for china. international expansion is a huge priority. the chinese may like that p
that means but italy has its own laws as you know, probably as well as anybody. but he wants -- he'd like to continue to run the show because he feels just like mario draghi that he's been very successful and he can't let go of the reins. now i understand that. but he doesn't want to run. >> he's been very successful and he tells us about that. >> right. >> he had his july 26th surprise between him and mario draghi but in the end as you pointed out off camera he doesn't want to lose. he's not going through the process in a way where he can lose. basically if you appoint me i'll take it. >> right. >> i think president obama or any politician in the u.s. would love to have those terms up. >> right. he wants the terms. no election. i don't want that process. i don't want the feeling of rejection but i'd like to continue in this path. italy has to make a decision and i think the big money will line up behind him. we see the reactions when berlusconi was on the rise for those two days the bond market got trashed again in italy and he's been out there talking this morning anyway. >> switching g
through this organization in europe, it's much easier to come to a coordination between italy, france and spain that if we had little representative. so europe with this model of collection societies is making it much easier to implement in other countries. >> and what do you expect this to mean for the music industry as you look ahead as you've cleared this obstacle? >> our aim is to make sure that the digital music market is developing. take the work of people talking to the consumer and what we want is to make our content more available so that they can stimulate more the market and give some interesting value to the consume are. so our aim is to make the digital market growing even faster. >> and what model did you have in mind if any or did you have to create the model here? >> well, you know, we are here to make sure that all digital platform -- we are here to support them. so whatever the models they ca imagine, we're here to find a way to find the connection between our consumer and creators. we're here to facilitate and make sure at the end the music market is growing again.
, distinguished service cross, bronze star, purple hea heart, left an arm in italy. a. as he said to me that last meeting we had together, "anything other than the arm?" i got shot in the arm and in the leg a couple times sm. we will all miss him, and that's a gross understatement. i wish i were capable of saying more, but i -- that's all i can say is that i've talked to his wife irene. she's there with his son, and i've known for a few hours that this wasn't working out well with senator inouye. but he is certainly one of the giants of the senate. remember what he said. he told his son when asked why he fought the way he did after having been declared an enemy alien, he said, he did it for the children. that's senator inouye. his commitment to our nation will never be surpassed. his service in the senate will be with the greats of this body. now, i could ask my friend if he wishes to speak on this issue. it would be my hope that the two votes that are scheduled, that we could do both of these judges by voice vote. i don't think it's appropriate to have a recorded vote at this time. so i'd ask un
italy. starting at 7:00 the corner of styles and high street. there will be carols and a visit by santa. >> help a child in need and it is toy drive time. we have been doing this for 14 years. can you drop off an almost -- most area wal-marts. can you find a list at www.abc2news.com. and we have a drop off location in the lobby. >>> 6:51 a local effort to help victims of sandy. and the loyola is holding a classic. here is how it will work. current undergrad waits will form teams for each class. they will compete. and athletes and coach them and referee the teams and proceedings from donations and the event is from 2 to 6. >>> we have outdoor and in door f the weather play as factor this weekend. there is plenty to do. >> something for everyone. i say if you want to go out. bundle up. can you do this this weekend? >> you only have to bundle up. can you bundle up today but make sure that you have the rain gear. we'll need that this morning as well. >> let me break it down. we have clouds out there this morning. we have some rain starting to come down across the area. all this is pushing f
and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they are doing well economically because they cut, not just cut spending in the washington sense of increasing it at a slower rate they spent less one year after the other and now they are out of the trouble. if you understand the right definition of austerity is the way to go, the problem is in most of europe it means higher taxes, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting
a carry-on with the must-have item. on a trip to italy things got off to a rocky start for season and her husband. >> we were told when we first got on the bag before we got on the plane the overhead bins were full so you must check your carry-on, so we did. >> then what happened. >> we got to rome and it wasn't there. >> they took in the sites and sounds of italy but without underwear, of course, so they bought new. when their luggage finally arrived, they went to pick it up. >> we had to go to naples to pick it up. and that was probably an hour ride on the bus from where we were. then we had to take a cab from the airport in nap else -- naples to the train station in rome. it happens so she put in a bill for her costs. >> underwear, a sweater, a jacket, and we had to buy a bus ticket from there to the naples airport and cab fair to the train station. >> and what did she bill the airline? less than $70. >> it didn't come, it didn't come, it didn't come, so finally i decided, okay, 7 on your side is going to be my way of getting my money back. so i did contact 7 on your side and i was cal
%. what we saw was the recession expanding. spain, italy, the uk, all found austerity taking its toll even more as unemployment continued to rise in some of those countries. even the large country, the economic powerhouse germany found its slelf slowing down. the root cause of it all was the inability of the european governments to come to policies to get growth started again. towards the middle and end of the year they did, but the tale was style there. very much austerity again and again. perhaps if there was only one change that took place as we moved into the fall and into the winter. it was the realization that most of these countries could take no more austerity. social welfare having been cut, health care cut, unemployment, growth virtually nonexistent. now the talk is not of more austerity, but how to get growth started again across the contine continent. suzanne. >> thank you, richard. >>> christmas, of course, is a time of giving, but there are many struggling families in boston that couldn't aafford to get their children he anything. this year for almost six decades help kamt no
's highest military medal for action in italy. as a member of the senate, senator inouye continued his fierce defense of his state in his partnership with alaska. my preye predecessor, ted steve, knew senator inouye as his brother. they worked together and produced much good for both our states. that will last for generations. when i was elected to this office, senator inouye was one of the first members to reach out to me to ask how he could help. the unique thing about senator inouye was always his quiet approach to all the issues. he provided me quiet advice and helped me learn how this place works. many times i'd be down here at the podium and in the well here waiting for the vote to be tallied or members to vote, and snon senator inouye was come in, stand at the edge there and look up and just say, how's it going, alaska? and we would have a brief conversation and usually his words were land incredible insight -- it may not even be relevant to the topic that we were voting on, but he'd say something to me about something he knew i was working on. and he would just share a few words. i kn
than the united states. i mean, countries like spain, italy -- >> the austerity policy. when you look at the country -- >> countries like spain and italy -- >> i'm talking about the labor market adjustments. >> they have seen 20%. that's a problem. >> i'm sorry. i didn't hear -- what did you say? >> spain, italy, unemployment around 15, 20%. >> of course they do. >> juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. >> i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i'm not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of these other european countries adjust on hours and their unemployment doesn't go up. that's the only point i was making. >> adjust on hours meaning you get something more like job sha
was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy employed with citi. a bit of it coming out. and finally they cleaned it up with a few big blocks. >> that was v
lost an arm during a battle in italy. he became the first japanese-american in congress and served 50 years in the senate. he played a key role on two major congressional investigators, watergate and iran contra. daniel inouye died yesterday. he was 88 years old. >>> it looks like the first president bush will get to spend christmas at home with his family. the 88-year-old former president could be released from a hospital any day now. he's been in the hospital since the day after thanksgiving. doctors have been treating him for bronchitis. >>> two kansas police officers gunned down while on the job were remembered last night in topeka. they were both shot in the head while investigating a suspicious vehicle in a grocery store parking lot. the shooter, a man with a history of theft and weapons convictions, was later killed in a shootout with police. >>> a huge drug bust in colombia where authorities seized literally a ton and a half of cocaine. the shipment was set to go to honduras, then mexico, where it would have been delivered to a drug trafficking cartel. the drugs have an estima
things that are important until they're not. we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the o
. in italy could these remains be mona lisa? the dna from the bones from a convert in nature rens. they are looking at whether it is lice saw gerdini she is the model that posed for da vinci's famous painting. >> the list of the ten best states for doing business. all but one of those states is actually a right to work state. there could be other factors involved. diane macedo has more on that. >> thousands of people came out to protest. unions there can no longer force workers to pay union dues. but forbes says according to a new survey right to work states have a clear advantage. they show all but one of the top ten states have right to work laws the exception colorado. the rankings for the third straight year. they attribute that to corporate taxes. the pro business regulatory climate and north dakota moves up to number 3 after having the most economic growth after the last five years. the top ten expanded their economies 1.7 percent during the tough years between torques 6 and 2011 the economies contracted an average of .1 percent of the year during that time. all but mississi
. >> the original [ inaudible ] in italy, the corporatist party. >> correct. correct. >> stephanie: exactly. oh by the way, greg writes about reince preibus, gym! >> reinholt reince prebus! [ dog barking ] >> i never thought we would use that sound bite. >> stephanie: they want more debates next time because it makes their candidates look really bad -- >> because we look bad when people here about our ideas. >> stephanie: greg says for jim, now know who else wanted less debates? >> hitler. [ bell chimes ] [ applause ] >> stephanie: hitler. greg you don't need to set jim up. joe in lockport hi joe. >> caller: hi steph. >> stephanie: hi. >> caller: this call is for jacki though. >> oh jacki it's for you! >> stephanie: phone! >> coming! what is up? >> caller: would the premium be for medicare if we all paid it out of our pocket? >> it would be much higher than what you pay now because medicare is regulated in a way that the private insurance market isn't regulated. so it's a percentage of what the private insurance market pays. people complain that medicare rates for doctors, for
in italy. he became the first japanese-american in congress. and served 50 years in the u.s. senate. daniel inouye died yesterday at a washington area hospital of breathing problems. he was 88 years old. >>> and secretary of state hillary clinton is said to be feeling a little more like herself after suffering a concussion last week. two teams of doctors checked her out. even putting her on an i.v. drip for a short time. aides say she is frustrated and wants to return to work. she will be unable to testify at the congressional hearings on benghazi this week. but she may do so down the road. >>> and the pacific northwest is recovering from the strongest storm of the season, complete with blinding snow, drenching rain and damaging winds. 80-mile-per-hour winds toppled a huge tree that crashed into a home in western washington, narrowly missing a baby in his crib. fortunately, that child was uninjured. and that storm buried cities, like yakima, under five inches of snow. higher elevations got up to two feet. and thousands of folks lost power. now, they do get a slight break in the weather toda
in italy and there lost an arm to a german grenade, leading a battle that won him the medal of honor. >> everything became a bit crazy. bullets flying all over the place, and my arm flew off. i looked for the grenade because i knew it was in my hand, and there it was still clutched. and i peeled it off and threw it at the enemy. >> reporter: inouye was elected to the u.s. house of representatives in 1959. the same year hawaii became a state. he won a seat in the senate three years later where he served 8 1/2 terms. >> he was a man who, as we all know, rarely called attention to himself, but who lived a remarkable american life filled with dignity and grace of the true hero that he was. >> reporter: he gained notoriety when he served on the senate committee looking into the watergate scandal. the probe ultimately led to president nixon's resignation. in a statement, president obama said, "our country has lost a true american hero." cbs news, los angeles. >>> congressman tim scott has been appointed to fill the south carolina senate seat vacated by jim demint. scott will be the south's
. norovirus easily transmitted. the ship left venice, italy earlier this month for a 20 day cruise. >> the only survivor of the clackamas is speaking out. two people were killed in the teenager is setting nicias very thankful. >> 15 year-old is home for the holidays after a frightening ordeal. she says it is the support of families and others that have given her strength. >> they sent me cards, calling and saying that they were praying for me. that's really helped. it was a big impact. >> this day, they had gone to the mall to they remember seeing a man and they thought it was a paid all gone. when she was shot she felt a tremendous amount of pressure and pain. >> it is difficult to capture the moment of what happened. >> reporter: they meted out to the parking lot the-made its way out to the parking lot and it's the police did not believe that she was going t sure was shot. >> they said that it was going to >> the removal of bullet fragments from her lover in the she came home earlier this week. >> she is home, safe. and it is amazing that she has been here. >> i know that god has
was a recipient of the medal of honor. he was wounded during combat in the po valley in italy, a short time and short distance away from where a young bob dole was also hit in combat. dole almost lost his arm. inouye lost his. while recuperating after the war, the two men struck up a lifelong friendship, served in the senate, of course, together. inouye was given the nation's highest military decoration. he was son of japanese immigrants who volunteered for service in the war and dedicated his life to public service in this country. he was a huge power in the senate on military issues. he was part of both the watergate and iran contra committees. the senior man, senior democrat in the senate, dan inouye of hawaii, was 88 years old. >>> congressman tim scott of south carolina is reportedly about to become the first black senator from the south since reconstruction. the governor of south carolina, nikki haley, has chosen scott to replace senator jim demint. scott is 47, he has a strong conservative voting record. the official announcement apparently comes tomorrow. there are four years remain
francisco's mission district. l-l-x-l-l-s q our home made in italy. and range in price from $120 to launch a $85. the all my when issues coverages lost in july as specializes in plus size 1 shoes. on monday 57 june was stolen out of the trunk of the company's representatives car. 19th and valencia streets. >> the broken the truck area when i returned the truck was locked in the side door was opened and the back seat was voted down. >> nelson received a tip about the shoes being left in san francisco but when she arrived last night no sign of them anywhere. with the holiday season in full swing nelson says she doesndesperately needs the high heeled shoe term. >> suspected car thieves behind bars, accused in a series of told stickups. these are the suspects. police say the pulled-that they pulled up, pulled out a gun, then dropped toll takers on the arcane as bridge. the robbers had happened 10 times to pilaster in this past may. investigators say, these men committed at least three of those 10. >> as you may recall in each case the robberies were done with use of force or fear and a threat
at italy f-18 is half an hour, not to mentioned the drones that were already overhead. american spectator wrote this, obama's fingerprints is all over this refusal. if no one in the c.i.a. chain of command refused the aid, the failure this is has to be failure is obama's, do you buy that? >> the congress has to find that out for us but it did happen on the president's watch. he did ultimately say it was his responsibility and he could have said that earlier. there is so many questions that we still have so many months after and we don't have the perpetrators. >> gregg: should the president testify? >> that is not common. >> gregg: it's happened before? >> it's possible and rare. these people that work in the white house generally don't come before congress. this is what congress is supposed to do oversight. >> gregg: back to the report and the failure to provide the security that had a been requested at benghazi missions. put it up on the screen. eric boswell forced to resign, charlene lamb forced to resign. documents show lamb is the one who denied repeated requests for additional securi
, guess, take a guess. it is a greece. tracy: i was going to say italy. i really was. ashley: they're not far behind. annual corruption index says all the countries embroiled in financial crisis top the list in europe, spain, portugal, yes, operationsy, italy. it measures the perception of the corruption in the public sector. as the most corrupt nations in the world. here we go. afghanistan, north korea, and somalia top the list. on the other side of the spectrum, countries with least perceived corruption, denmark, fin left-hand and new zealand. where does the u.s. rank? 19th. tracy: nobody lives in those countries. ashley: what they do is very simple and very clean. tracy: very blond. ashley: very blond. definitely in denmark and finland, that's for sure. tracy: the dark skin, the dark eyes. we're all evil at heart. ashley: that is the quote of the day. thanks, tracy. i didn't say that. tracy: all right. quarter after. come on. right? think about it. as we do every 15 minutes we check on the markets, nicole petallides on the floor of the new york stock exchange. from the most corr
there are two that we're watching for american investors. one is greece, one is italy. the developments today are both good from an american investing perspective because they keep a lid on what's happening in those two respects. in greece there was trouble on the streets of athens last night as a result of left-wing protesters and students out and police using tear gas to disperse them as they protested the death of a teenager as a result of a police shooting four years ago, but the more important thing from a market perspective is that in 30 minutes' time now, the book will close on the greek debt buyback. now, remember what's happening here. the greek government is borrowing 10 billion euros from the rest of europe to buy back its own debt at a discount. if it does that successfully, by midday our time when that book closes, then more cash will flow through from the rest of europe, possibly next week it will be able to repay its bills and capitalize on the banks. let's check the close. >> the european markets are closing now. >> so we kind of went nowhere today. a lot of these markets in e
with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversing its move lower this morning, sold more than 2 million iphone 5s in china. the best debut for any iphone in t
that conviction and says he is considering running again for prime minister of italy. the syrian regime can and will deploy chemical weapons on its own people unless other nations step in. that's the word now from a former syrian general who now leads the rebels. plus, investigators say this beauty queen died after a shootout in mexico and they have now linked one gun at the scene to the failed operation fast and furious. plus, the latest winter storm could throw a huge wrench into travel plans across several states. we'll tell you where it is headed and how much it's about to dump as we approach the bottom of the hour and the top of the news as fox reports live tonight. and 320 calories. marie callender's. it's time to savor. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. the lexus december to remember sales event is on. hey, yo, check out this chef, right? right? that's so gay. that's really gay. dude, look at those pants. please don't say that. what? don't say that somet
against a nest of machine gunners that were perched on a ridge in italy. during that attack, he had his right arm shattered by german gunfire. he still managed to destroy the german encampment by snatching a grenade from that destroyed arm and throwing the grenade toward the enemy position taking it out and earning himself in the process the medal of honor. dan inhoye became the second longest serving senator in u.s. history, and at the time of his death he was third in the lane of succession behind the vice president and the speaker of the house. senator daniel inouye's office said he died of airportor complications. he was 88 years old. >>> second item you should know about in today's news, outside of the news from newtown, connecticut, is what seems like the inevitability now that the next united states secretary of state is going to be massachusetts democratic senator john kerry. nbc news has been able to confirm that senator kerry will be nominated for that job by president obama likely sometime this week. senator kerry is not expected to face significant opposition in the senate.
there in north africa, buzz not located in italy or any place close to north africa. they couldn't get there in time. there was a drone that took pictures but it was unarmed. >> let's bring this to human terms. people like to find somebody responsible. there isn't always somebody responsible. sometimes things break. is it true they were tough in their report, the pickering and mullen report. but in the end are they saying this could have been avoided, really? >> yes, they are. >> if chris stevens wanted to go into a dangerous area, could he have been protected? >> the two phrases that admiral mullen used in the clip that introduced this segment, first there were inadequate sources there. there were requests for more forces. the state department didn't act in a timely way. the bureau which overseas that consulate, that mission, didn't act in a timely way. and the forces were grossly inadequate. an unusual phrase to use. >> partly to save money and partly to rely on the host. we don't have marines at these place. we rely on the libyans. they were not able. they didn't have a national gov
japanese planes flew over his home to bomb pearl harbor. he served in italy and there lost an arm to a german grenade, leading a battle that won him the medal of honor. >> everything became a by the crazy. bullets flying all over the place and my arm flew off. i looked for the grenade because i knew it was in my hand. and there it was still clutched. and i peeled it off and i threw it at the enemy. >> reporter: inouye was elected to the u.s. house of representatives in 1959. the same year hawaii became a state. he won a seat in the senate three years later where he served eight and a half terms. >> he was a man who, as we all know, rarely called attention to himself. but who lived a remarkable american life filled with dignity and grace of the true hero that he was. >> reporter: he gained notoriety when he served on the senate committee looking into the watergate scandal. the probe ultimately led to president nixon's resignation. in a statement president obama said, "our country has lost a true american hero." >> inouye also served as chair of the congressional panel during the ir
on wall street. but investors were cautioning. and italy's prime minister, mario monty, resigned. wall street is expecting the worst bonus season since the financial crisis of 2008. the average bonus will decline 16 1/2% from last year, to just over $100,000. and about one in five wall street workers won't get a bonus at all, as banks and investment firms continue to struggle in a tough economy. sales at mcdonald's rose in november, as u.s. brought more breakfast items and its new cheddar bacon onion sandwiches. drivers are getting some relief at the gas pump. according to the lundberg survey, a gallon of regular unleaded costs average. $3.46 nationwide. and retailers are acquiring holiday help in record numbers. retailers a added, 465,500 seasonal workers in november as they wrap up for the holidays. that's barely surpasses a previous record set in 2005, just before the financial crisis. that's your money watch. for more, head to cbs money watch.com. >>> a bald eagle is going to be okay, thanks to the quick thinking of two fort myers resident
in italy. he became the first japanese american in congress and served 50 years in the u.s. senate. his death was announced by harry reid. >> the kindness that he has shown me for me time here in the senate has been something i will cherish always. a man who has lived and breathed the senate. he was that patriot. >> very kind words. president obama also a native of hawaii tweeted aloha yesterday. he died yesterday at 88 years old. >>> there is progress in talks on the fiscal cliff, but major sticking points still remain with just two weeks to go. a top republican says there is disagreement over spending cuts versus new taxes and until that could be worked out, there won't be any talks about the specific details. and wall street closed higher over signs of the talks. the dow jones rose 100 points for its biggest gain of the month. early markets overseas also higher because of capitol hill optimism. and a bounce back in china's economy. >>> a holiday miracle for drivers as plunging gas prices hit their lowest point of the year. aaa reports the price of gas fell more than nine cents a gall
carter to visit italy with the delegation, members of congress, italian american members of congress, and we went there to deliver assistance from the dwrites government after an earthquake in southern italy. and one of the village we visited there was a rehearsal for first commune ongoing on in the church. so just about every 7-year-old in the village was in church practicing for first holy commune on. when the earthquake hit, the -- communian. when the earthquake hit, the roof came down, every 7-year-old in the village was gone. it was impossible to console the people there. not only had they individually lost their child, which is unthinkable, but the whole town had lost that class, their future, their new growth, their hopes, their babies. their babies. so how -- and that really frmpled my thinking about how fragile -- transformed my think being how fragile life is. this was a natural disaster. what happened in newtown was a personal decision about someone whose judgment was thoroughly impaired, who had -- how could he do this? how could he do it? because he had his own problems.
. >> the european markets are closing now. >> remember yesterday and all that concern we had about where italy might go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay
germany, italy, england, and austria from staalin and his successors even though they are now strong enough to meet a threat which in fact doesn't exist. i just had my very able aid marcus rose check this for me. over the last ten years we have spent $3.8 billion in medicare. that's true. during that same period we spent $5.6 billion on the military. the military has been going up fast faster and it includes an awful lot of expenditure, unnecessary. we're reading today that canada is recoring whether they're going to buy the f-35. the f-35 is a very, very well conceived airplane that's proving to be a great financial disaster. if any agency, the decht housing, the department of education, the department of energy, had a disaster as remotely expensive to the taxpayer as the f-35 my conservative friends would be screaming. so yeah, i agree with them. ironically. that's one area where the republicans want to spend more, where mitt romney criticizes the president for not spending enough. and i'm very encouraged, ed, that in this last election for the first time in my memory a democratic
that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a fre depression? we know a ton of countries that could do very well in a low-growth environment. a year ago all the wise guys were telling us to avoid china because it was a house of cards. the course only grew more uniform with the chinese market falling to multiyear lows. but in the last few weeks, china's economy bottomed during the summer as they were focused way too much on beating inflation. now it's become the best performer in the world, and i don't think you've missed the move which is why my trust has been buying an etf that mimics china. finally there's apple. we've become addicted to apple. we are deeply focused on its decline whic
-year-old lieutenant inowe way led an assault on machine guns in italy. he destroyed all three after being shot in the stomach and having his right arm nearly severed. it was later amputated. he was awarded the distinguished service cross but it was elevated to the medal of honor. his death live the michigan congressman as one of the two remaining world war ii veterans in congress. >> he worked to make the congress effecve as a tool in serving the broad public interest both for hawaii and for the rest of the country. he believed in legislating, legislating well. he knew that working together and accepting the responsibilities that we get when we are sworn in and when weary lected was an extremely important part of his responsibility as senator. >> brown: after the war, he turned to politics. he won a seat in the u.s. house in 1959 and was elected senator in 1962. six years later as keynote speaker he lent a steady voice of reason to the riotous proceedings of the 1968 democratic convention in chicago. >> this is our country. and we are engaged in a time of great testing. >> brown: he
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